Which of the following are cost estimating methods recommended by NRM1? Cost per m2 Work package Functional unit Elemental cost planning Elemental

The cost estimating methods recommended by NRM1 (New Rules of Measurement) are:

1. Cost per m2: This method estimates the cost based on the total area of the project. It's a simple and quick method, but it may not be very accurate as it doesn't take into account the complexity or quality of the project.

2. Work package: This method breaks down the project into smaller, manageable parts or "work packages". Each package is estimated separately, and then all the estimates are added together to get the total cost. This method is more accurate than the cost per m2 method, but it requires more time and effort.

3. Functional unit: This method estimates the cost based on the function of the project. For example, in a hospital project, the cost could be estimated per bed. This method is useful for projects where the function is more important than the size.

4. Elemental cost planning: This method breaks down the project into its elements (like walls, floors, roofs, etc.) and estimates the cost of each element. This method is very detailed and accurate, but it requires a lot of time and effort.

5. Elemental: This method is similar to the elemental cost planning method, but it's less detailed. It estimates the cost of each element, but it doesn't break down the elements into smaller parts. This method is quicker than the elemental cost planning method, but it may not be as accurate.